Stories for October 2011

Wednesday, October 26th 2011 - 02:32 UTC
Argentine industry ratifies support for CFK policies, but demands more competitiveness

Over 80% of the Argentine electorate ratified on Sunday the current economic course, ‘which we must all support’ said the president of the powerful Argentine Industrial Union, Jose Ignacio de Mendiguren, who nevertheless called for a greater effort in “systemic competitiveness”.
Wednesday, October 26th 2011 - 02:27 UTC
Marfrig plans massive restructure to reduce costs and trim debt

Brazilian meat processor Marfrig will restructure multiple segments of the company between now and December in an effort to reduce costs and trim away at its current debt of BRL10.3 billion (5.8 billion dollars), the company's president said this week in an interview with Valor Economico newspaper, partly reproduced by Meat trade news Daily.
Tuesday, October 25th 2011 - 21:32 UTC
FDI in Latam expands 41% in 2011 first half; strong support from ‘trans-Latins’

In spite of global financial volatility during the first half of 2011, foreign direct investment (FDI) in Latin America and the Caribbean continued to grow maintaining the 2010 trend, according to a Tuesday release from the UN Economic Commission for Latin America and the Caribbean, ECLAC, in Santiago de Chile.
Tuesday, October 25th 2011 - 21:24 UTC
Two-day fire destroys 1.550 hectares of forest and grazing land in Tierra del Fuego

Forest fires that began on Sunday in the province of Tierra del Fuego, Argentina’s extreme south have spread across from 50 hectares of trees to 1.500 hectares of grazing land, provincial officials confirmed.
Tuesday, October 25th 2011 - 21:06 UTC
US disassembles last of Cold War’s most potent nuclear bombs

The last of the United States' most powerful nuclear bombs — a weapon hundreds of times more destructive than the bomb dropped on Hiroshima — is being disassembled nearly fifty years after it was put into service, informed Tuesday the newspaper Texas Star-Telegram.
Tuesday, October 25th 2011 - 20:45 UTC
The Argentine economy is “a time-bomb ticking” warns economist

A ‘time bomb ticking’ is how economist Carlos Melconian described the current economic situation in Argentina in spite of all the production and consumption ‘records’. Melconian argues that Argentina is travelling through an ‘anaesthetic path’ which overshadows reality.
Tuesday, October 25th 2011 - 19:45 UTC
Crises in the US and Spain have Uruguayans returning in growing numbers

Uruguayan expatriates are returning at an average of 350 per month which is three times the 2010 rate, but his only refers to those that have formally requested advice and assistance from the country’s Foreign Affairs ‘Return and Welcome Office’.
Tuesday, October 25th 2011 - 18:50 UTC
EIU expects higher inflation in Uruguay as government tries to spur growth

The Uruguayan government will concentrate efforts in promoting economic growth, (debilitated in the second quarter), plus reducing domestic debt, even to the expense of “weakening the credibility of the inflation target”, according to the Economist Intelligence Unit, EIU, from The Economist magazine.
Tuesday, October 25th 2011 - 04:26 UTC
German parliament joins discussion on Euro rescue plan

Germany's political opposition has succeeded in ensuring plans to enhance Europe's bailout fund be brought to a vote in parliament on Wednesday. The decision came after the Bundestag's plenary session rejected the opposition's demands for an open debate just Friday.
Tuesday, October 25th 2011 - 04:19 UTC
Inflation in Brazil slowing down for the first time in 14 months

Economists covering Brazil cut their 2012 inflation forecast for the first time in eight weeks, cementing expectations that the central bank will continue to cut interest rates.